I play in a league with an inning max, and I see almost everybody is projected to go 20-40 innings over the limit by pitching guys like Brad Radke (in a 7-team league!). I'm doing the opposite. Right now I'm running a 4-man rotation (Unit, Schmidt, Clement, Oliver Perez) and saving up innings (Prior's on my DL!). Should I keep doing this and eventually get pitchers cheaply from guys that are worried about reaching the limit early? If I have to, should I start picking up favourable matchups every day in August and September?

I like this because I'm 3rd in the standings but would easily be in 1st if I had used the same amount of innings as everyone else. This way, people don't percieve me as a threat (yet) to win.

I would agree with your strategy, especially with prior on the DL. Lay low, and conserve those innings. Odds are most of the other owners will do the math and realize this sometime right after the all-star break maybe a little later.

Once this happens you may be able to pick up some key players late in the year, and have more quality innings pitched.